Discussing several key points in the current market:

1. The funding for this bull market mainly comes from the push of American capital.

2. The U.S. is currently still in a holiday atmosphere (from Christmas extending into the New Year), which has somewhat affected market liquidity.

3. It can be inferred that the current market liquidity is not abundant, especially during the weekend. We can observe that there is a phenomenon of negative premium between CB's BTC spot and BN, which further confirms the tight state of market liquidity.

Regarding today's Bitcoin market, a rather typical M-head pattern has appeared in the short term. However, it should be noted that this pattern is not suitable to be used alone as the basis for opening a long or short position. We need to combine it with the current overall market conditions and find key positions within the pattern to develop trading strategies.